Market Chatter: Ant Group's Profit Soars on Investment Gains

MT Newswires Live

Feb 21, 2025

Ant Group's profit surged more than 50 times, driven by investment gains, contributing 4.49 billion yuan to Alibaba (HKG:9988), which logged an estimated 13.6 billion profit for the quarter ended Sept. 30, 2024, Bloomberg News reported Thursday.

The surge stemmed from a net investment gain, reversing losses from the previous year, as well as strong revenue growth, signaling a rebound in its commerce business and AI expansion, according to the report.

China's tech sector is seeing renewed optimism after President Xi Jinping met with top entrepreneurs, including Ant Group founder Jack Ma, Bloomberg wrote.

Meanwhile, Ant is advancing AI efforts, developing a humanoid robotics unit and launching digital services within its Alipay app. The company also restructured key units to prepare for potential spinoffs.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0828237510.HKD","symbol_name":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2513558062","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2513558062","pubTimestamp":1740125090,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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